Northborne Partners

MINNEAPOLIS, MN – February 16, 2026 – Northborne Partners is pleased to announce that it served as the exclusive financial advisor to Labsurface in connection with its minority investment from Idealist Capital (“Idealist”). Financial terms were not disclosed.

Founded in 1995, Labsurface is a leading North American manufacturer and innovator of high‑performance concrete floor coating systems, engineered to enhance durability, safety and lifecycle performance in demanding environments. The company leverages proprietary formulations, materials expertise and in‑house manufacturing to serve a broad range of industrial, commercial and institutional end markets.

Jonathan Gagnon, President, CEO and Controlling Shareholder of Labsurface, expressed enthusiasm for the company’s next chapter, stating, “This partnership represents an important step forward for Labsurface. Idealist Capital shares our values around innovation, long-term thinking and disciplined growth. Just as importantly, they respect what makes Labsurface unique. We are grateful to the Northborne Partners team for their thoughtful guidance throughout this process and for helping us identify a partner who aligns so closely with our vision for the future.”

Mat Marcussen, Director at Northborne, commented, “We are incredibly grateful to have been part of this journey with Jonathan and the Labsurface team. Labsurface is a differentiated platform with a clear strategy, strong culture and compelling long-term opportunity. Idealist Capital is a natural partner for the next chapter of growth and we are proud to have helped bring together two groups so well aligned in ambition and values.”

Specialty coatings and materials as a category continues to be highly sought after by strategic and financial investors alike. Northborne is a thought leader in this segment and this transaction marks Northborne’s second completed transaction in specialty coatings and materials in 2026.

Davies Ward Phillips & Vineberg served as legal counsel to Labsurface on the transaction.

About Northborne Partners

Northborne Partners is a preeminent middle market investment banking firm focused on providing M&A advisory services to companies in the industrial, healthcare, services and food & consumer sectors, among others. It specializes in advising private-equity-owned and closely-held businesses on complex sell-side transactions. Northborne Partners is headquartered in Minneapolis, MN. For more information, please visit northborne.com.

About Labsurface

Founded in 1995, Labsurface is a leading North American manufacturer and innovator of high‑performance concrete floor coating systems. The company is recognized for its advanced materials expertise, proprietary formulations, and commitment to performance, durability, and reliability across industrial and commercial applications. Labsurface is headquartered in Mascouche, Québec. For more information, please visit labsurface.com.

About Idealist Capital

Founded in 2022, Idealist Capital is a growth‑oriented private equity firm focused on partnering with entrepreneurs to support the scaling of differentiated businesses across North America. The firm invests in companies positioned to benefit from long‑term structural trends, with an emphasis on building durable platforms alongside management teams. Idealist Capital is headquartered in Montreal, Québec. For more information, please visit idealist.capital.